Neoliberalism

On July 13th, the Bank of Canada began to tighten monetary policy, arguing that the economy would be operating at full capacity by the end of this year. This action was guided more by the economic dogma of a “natural” unemployment rate crafted by Milton Friedman back in the 1970s than by hard evidence of a looming increase in inflation.

Donald Trump’s ascension to the US presidency is being hailed by some as the end of globalization as we have come to know it in the last four decades. Others see in Trump’s electoral victory the end of neoliberal economic policy, which promoted free trade and free markets, and limited the scope of government. But German sociologist Wolfgang Streeck discerns in the demise both of globalization and neoliberalism the end of capitalism itself, at least the variety of capitalism that exists in North America and Western Europe.

After enduring well over a decade of broken promises, the prospects for publicly-funded child care in Canada looked good in the autumn of 2005.

The Paul Martin government proposed to create thousands of new day-care spaces and had also negotiated deals with most provinces and territories to turn a patch-work of often poor-quality services into a system of early learning and child care with national standards.